When it’s time to begin moving forward on your next to the commercial real estate transaction, how do you know which broker will be the best one for you? You may be getting prospected by several or maybe even many brokers, but when it’s time to select the one to begin working with, what will be the best criteria for you to utilize when making this decision?
First of all, what does your gut-level feeling tell you about the broker? Do they seem to be professional? Do they dress appropriately?
In addition, do you believe that you can trust the broker? How many years have they been in the commercial real estate? What kind of transactions have they done, and have they successfully closed transactions that are similar to the next transaction that you will be working on?
Do they have client testimonials, or people who they’ve successfully closed transactions with who you can talk to about their experience in working with the broker?
You’re going to be making a very important decision in your next commercial real estate transaction, one that will probably involve hundreds of thousands to millions of dollars, so it’s very important to choose the best broker to begin working with.
In the middle of all of this, something that’s also very important is the following…does the broker do a good job of listening to you, and in showing you that they really care about your needs? Because you want to be working with someone who is a good listener, and who understands what’s most important to you, along with them providing you with outstanding service.
Throughout our lifetime we oftentimes encounter salespeople who are pushy, and who are constantly trying to close us on what’s really best for them, instead of being truly focused on what’s best for us. With this being said, you’ll want to work with a commercial real estate broker who always stands for providing you with the best service imaginable, and someone who you know always stands for you getting what’s best for you within the transaction, far above and beyond them just getting paid a commission.
In addition, pay attention to detail. Does the broker fully understand the forms that they’re asking you to sign? If you ask them a question about where a specific provision is within the form, can they locate it easily for you? If so, this is a good indication that the broker has spent time both reading and understanding the form that they’re asking you to sign, which is a great indication that they could be a good broker for you.